Japan’s top currency diplomat Masato Kanda came out with verbal intervention remarks early Wednesday, according to Reuters.
Key quotes
“Dealing appropriately with FX moves”
“Closely communicating with US, overseas FX authorities”
“Closely watching FX moves with high sense of urgency”
“Japan is closely communicating with US authorities over forex on a regular basis”
“Shared mutual understanding that excessive forex move undesirable”
Market reaction
At the time of writing, USD/JPY is trading at 147.70 down 0.10% on the day.
Source: https://www.fxstreet.com/news/japans-top-fx-diplomat-kanda-closely-watching-fx-moves-with-high-sense-of-urgency-202309192323